Rithm Capital Corp. $RITM Shares Purchased by Greenland Capital Management LP

Greenland Capital Management LP increased its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 134.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 58,703 shares of the real estate investment trust’s stock after buying an additional 33,703 shares during the period. Greenland Capital Management LP’s holdings in Rithm Capital were worth $663,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RITM. Frank Rimerman Advisors LLC purchased a new stake in shares of Rithm Capital during the second quarter worth $517,000. Capital Square LLC boosted its holdings in Rithm Capital by 1.4% in the second quarter. Capital Square LLC now owns 250,025 shares of the real estate investment trust’s stock valued at $2,920,000 after purchasing an additional 3,561 shares during the period. Financial Gravity Companies Inc. acquired a new position in Rithm Capital during the 2nd quarter worth $108,000. Rockefeller Capital Management L.P. increased its holdings in Rithm Capital by 1.6% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 213,744 shares of the real estate investment trust’s stock worth $2,413,000 after purchasing an additional 3,272 shares during the period. Finally, Cetera Investment Advisers raised its position in Rithm Capital by 9.9% in the 2nd quarter. Cetera Investment Advisers now owns 316,187 shares of the real estate investment trust’s stock valued at $3,570,000 after purchasing an additional 28,582 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Down 0.3%

NYSE RITM opened at $10.84 on Thursday. The firm’s fifty day moving average price is $11.24 and its 200 day moving average price is $11.59. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.74. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.45 and a quick ratio of 0.45. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of 7.47 and a beta of 1.30.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Rithm Capital had a net margin of 17.08% and a return on equity of 18.82%. On average, sell-side analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.2%. Rithm Capital’s payout ratio is presently 68.97%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Rithm Capital in a research report on Thursday, November 13th. BTIG Research reissued a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a research report on Wednesday, September 17th. UBS Group lifted their price objective on shares of Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Wedbush reiterated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research note on Wednesday, August 6th. Finally, Jones Trading restated a “buy” rating and issued a $13.50 price target on shares of Rithm Capital in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $14.25.

Insider Buying and Selling at Rithm Capital

In other Rithm Capital news, insider David Zeiden sold 19,285 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $11.11, for a total transaction of $214,256.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Nierenberg sold 301,548 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total transaction of $3,317,028.00. The disclosure for this sale is available in the SEC filing. Insiders own 0.44% of the company’s stock.

Rithm Capital Profile

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.